Steven Nerayoff, a notable former advisor to Ethereum, has recently raised alarms over the potential control exerted by the Chinese Communist Party (CCP) on the Ethereum (ETH) blockchain.

In a series of statements on X (previously known as Twitter), he aligned his views with those uncovered by TruthLabs, a group known for its investigative prowess on blockchain activities.

TruthLabs' reports suggest a concerning figure, indicating that the CCP might have control over an estimated two-thirds (66.6%) of the ETH supply.

This significant influence, as purported by these findings, points to a potentially dominating presence of the CCP within the Ethereum ecosystem, sparking widespread discussion and concern within the crypto community.